Doha: Qatar and People’s Republic of China has signed the protocol amending the agreement for the avoidance of double taxation and preventing financial evasions concerning income taxes between the two countries’ governments. The agreement was signed on March 10 at the General Tax Authority’s headquarters in Doha.
The amending protocol was signed on behalf of Qatar by President of the General Tax Authority, H E Ahmed bin Issa Al Mohannadi, and on behalf of the People’s Republic of China, Ambassador of the People’s Republic of China to the State of Qatar, H E Zhou Jian. The signing ceremony was attended Qatar Airways Group Chief Executive, H E Akbar Al Baker.
Ahmed bin Issa Al Mohannadi, said: “The signed protocol amending the agreement to avoid double taxation and prevent fiscal evasion with the People’s Republic of China would strengthen the existing economic relations between the two countries.
The People’s Republic of China is one of the most important trade partners of the State of Qatar. The cooperation between the two countries’ tax authorities will have positive effects on several trade and investment aspects between the two nations.”
“The amending protocol aims to grant Qatar Airways tax exemptions on air freight, passenger transport. It also aims to strengthen efforts regarding double taxation between the two countries’ governments, encouraging trade exchange, increasing capital movement, enhancing investment opportunities, and strengthen economic relations between the two countries,” he said.
Zhou Jian said, “I am delighted to sign the Protocol on behalf of the Chinese Government, which is good news for enterprises from both countries and will help create a better business environment for them.
“It will also provide, in particular, stronger momentum for Qatari companies, including Qatar Airways, to expand their investments and operations in China. Since last year, despite the impact of the COVID-19 pandemic, China-Qatar economic and trade cooperation has kept growing, and China became for the first time Qatar’s largest trading partner in 2020, which highlights the resilience and vitality of the bilateral pragmatic cooperation,” Zhou Jian added.
“Currently, China is implementing its 14th Five-Year Plan, and setting out its long-range development objectives through the year 2035, in order to foster a new development pattern centering on domestic circulation with domestic and international markets promoting each other, thus fully enhancing domestic consumption and expanding China’s opening up to a higher level. Obviously, China’s huge market of 1.4 billion populations and its corresponding consumption potential will provide a new strategic opportunity for our pragmatic cooperation. I am fully optimistic and confident in this,” he added.
Akbar Al Baker, said, “We are pleased that the Tax Authorities of both Qatar and the People’s Republic of China have signed a new bilateral agreement. China is an important and significant player in the economic world, and this cooperation will further strengthen the warm and strong relations between our two countries. “Qatar Airways has demonstrated its continued commitment to China, and looks forward to further developing its presence in the Chinese market as COVID-19 restrictions ease.” Qatar has signed several agreements to avoid double taxation and prevent fiscal evasion with other friendly countries.
